Brief: U.S. I-Gaming Stocks Rise ahead of Frank Bill Introduction

5 May 2009
The small number of United States online gambling stocks was up significantly on Tuesday as news of Barney Frank's expected bill began to make headlines.

In late-afternoon trading, CryptoLogic Ltd., the Nasdaq-listed software developer, was up 26 percent over Monday's close. Its shares had gained $1.78 and were trading at $8.60.

Likewise, World Poker Tour Enterprises Inc., which trades on Nasdaq, shot up 33 percent to 95 cents. The company's shares haven't traded above $1 since Sept. 3, 2008.

GigaMedia Ltd., whose forecasts were trimmed last week by analysts with Roth Capital Partners, was up 33 cents, or 5.36 percent, to $6.49 on Nasdaq.

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